Crypto exchange Kraken has changed the minimum trading volumes due to increased volatility
Kraken Resizes Minimum Trading Volumes
The exchange cannot cope with the influx of orders for the purchase and sale of cryptocurrency
Investment companies also note an increase in registrations following an increase in the price of BTC and shares
International consortium of news organizations developing transparency standards.
Kraken Crypto Exchange Changes Minimum Trading Limits For All Trading Pairs Due To High Market Volatility
No more decimal values
Cryptocurrency exchange Kraken announced a change in the minimum trading volume, citing changing market conditions. Exchange representatives wrote about this on their Twitter page..
The explanation states that “an attempt to place an order with a large number of decimal places in the“ Volume ”field will result in the volume being truncated to the maximum possible precision. An attempt to place an order with a large number of decimal places in the “Price” field will result in an error and the order will not be created “.
“For example, the maximum price precision for XBT / USD is 1 decimal place. This means that you can place an order at $ 6500 or $ 6500.1, but not at $ 6500.01. The maximum volume precision for XBT / USD is 8 decimal places. This means that you can place an order for 1 XBT, or 0.1 XBT, or 0.00200001 XBT, but not 0.002000001 XBT, ”the explanation says..
The changes will affect absolutely everyone. New trading volumes and coin prices can be viewed here.
Kraken reports problems with placing orders for the purchase and sale of cryptocurrencies
While the exchange is updating its policy on minimum trading volumes, users of the resource complain about delays in registering accounts. The company confirmed that due to the large influx of applications, the registration process can take up to five business days.
As we are experiencing a higher than usual number of applications, this results in delays of up to 5 business days. We are working hard to get all applications processed as soon as possible.
We appreciate your patience in the meantime.
– Kraken Support (@krakensupport) January 30, 2021
Kraken explains the delays with the high workload of operators and promises to deal with the problem in the near future.
By the way, the Voyager Digital investment company faced a similar problem. The firm reported that it receives 100 invoice registration requests per minute and is simply not able to process them quickly and efficiently..
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